trending Market Intelligence /marketintelligence/en/news-insights/trending/63zC9tLrR-OLh4xrcuXTCg2 content esgSubNav
In This List

Bank of Maharashtra issues shares to government

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Bank of Maharashtra issues shares to government

Bank of Maharashtra issued 3 billion Indian rupees worth of shares to the Indian government on a preferential basis.

The government subscribed to 88,888,888 equity shares of the bank at 33.75 rupees per share. The shares have a lock-in period of three years, the bank said in a stock exchange filing.

With the issuance, the government's shareholding in the bank increased to 82.91% from 81.61%.

As of Aug. 10, US$1 was equivalent to 64.08 Indian rupees.